Examlex
What are the results of the successful implementation of a JIT operating environment?
Average Variable Cost
The total variable cost divided by the quantity of output produced; it shows the variable cost per unit of output.
Marginal Product
The extra output generated from the inclusion of one additional unit of a particular input while maintaining all other inputs unchanged.
Variable Cost
Costs that change in proportion to the level of production output or activity level of an entity.
Average Variable Costs
Average variable costs represent the per-unit variable costs of production, calculated by dividing total variable costs by the quantity of output.
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